SALES TAX ASSESSMENT (No. 1).

No. 30 of 1940.

An Act to amend the Sales Tax Assessment Act (No. 1) 1930-1936.

[Assented to 1st June, 1940.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.)   This Act may be cited as the Sales Tax Assessment Act (No. 1) 1940.

(2.)   The Sales Tax Assessment Act (No. 1) 1930-1936 is in this Act referred to as the Principal Act.

(3.)   The Principal Act, as amended by this Act, may be cited as the Sales Tax Assessment Act (No. 1) 1930-1940.

Commencement.

2.    This Act shall come into operation on the day on which it receives the Royal Assent.

Sales Tax.

3.    Section seventeen of the Principal Act is amended by omitting from sub-section (2.) all the words after the word “sale” (first occurring).

Sale value of goods.

4.    Section eighteen of the Principal Act is amended—

(a) by omitting the proviso to sub-section (2.) and inserting in its stead the following provisoes:—

“Provided that in any case where the Commissioner is satisfied, with respect to all the goods used in, wrought into or attached to any goods (being goods to which this sub-section applies) manufactured by the taxpayer, that sales tax has been paid in respect of the goods so used, wrought into or attached, the sale value of the manufactured goods may, at the option of the taxpayer, be the amount of the wages actually paid by him in respect of the manufacture of the manufactured goods increased by seventy-five per centum of that amount:

“Provided further that where any goods to which this sub-section applies have been manufactured for the taxpayer wholly or in part out of goods supplied by him to another person for that purpose, and the Commissioner is satisfied that sales tax has been paid in respect of all the goods so supplied, the sale value of the manufactured goods shall be the total amount payable by the taxpayer to that other person in respect of the manufacture of the manufactured goods increased by thirty-three and one-third per centum of that amount.”; and

(b) by omitting from sub-section (3a.) the words “the proviso” (first occurring) and inserting in their stead the words “either of the provisoes”.